Opted in for CLSO2- but have not heard back apart from auto reply

[Dharmin]

I am not sure what to do :
1. Go for the settlement (direct with HMRC), have to pay big amount, wiping out most of my savings for kids (twins) University Tuition fees.
2. Wait for the miracle that the law is changed and we don't end up paying anything.

Lots of banging going on Twitter - #HMRCHumanCost , not sure if that would force the laws to change and we are saved.

In Settlement , the worst is we'll end up paying more Tax compared to paying tax if were on a permanent role.

Am confused...

Regards
Dharmin

[regron]

I am not sure what to do :
1. Go for the settlement (direct with HMRC), have to pay big amount, wiping out most of my savings for kids (twins) University Tuition fees.
2. Wait for the miracle that the law is changed and we don't end up paying anything.

Lots of banging going on Twitter - #HMRCHumanCost , not sure if that would force the laws to change and we are saved.

In Settlement , the worst is we'll end up paying more Tax compared to paying tax if were on a permanent role.

Am confused...

Regards
Dharmin

The best advice I think you can get right now, is for you to speak to a professional tax advisor. There are two of those very people active on this forum and it isn't difficult to find them (advertising not permitted). Both will offer a free consultation on the phone where you can outline your own personal circumstances to which the advisors will let you know your options. Remember though, they won't give you the answer, they will offer you your options to which you will then have to make a personal informed decision.

[ChimpMaster]

I provided them nothing. I just checked the figures they sent to me were what I had received. I managed to get my old bank statements going back to the year I started. I let them do all the work, then questioned them on a couple of occasions when they had them wrong. 2 separate calculations by 2 different HMRC officers using the same information were out by £100k !!!!!!!

But it sounds like you provided the bank statements to HMRC.

Many peoples' scheme use will go back 10+ years, and it's unlikely any paperwork will be available. I'm wondering how HMRC will estimate the tax due in this case. I've heard they can use P11Ds or tax returns, but I've not seen any evidence of this.

[Dharmin]

The best advice I think you can get right now, is for you to speak to a professional tax advisor. There are two of those very people active on this forum and it isn't difficult to find them (advertising not permitted). Both will offer a free consultation on the phone where you can outline your own personal circumstances to which the advisors will let you know your options. Remember though, they won't give you the answer, they will offer you your options to which you will then have to make a personal informed decision.

Thanks I am aware of WTT/BIG Group and Phil

[regron]

But it sounds like you provided the bank statements to HMRC.

Many peoples' scheme use will go back 10+ years, and it's unlikely any paperwork will be available. I'm wondering how HMRC will estimate the tax due in this case. I've heard they can use P11Ds or tax returns, but I've not seen any evidence of this.

No, I provided them nothing. They had all my self assessments to go on/p11d’s . I just double checked the figures they used against my bank statements I got hold of.

[WTFH]

Thanks I am aware of WTT/BIG Group and Phil

OK, so you don’t want to take the advice given by many on here, what advice would you like us to give you?

[Lonerous]

Has anyone who registered interest to settle loans by 31st May actually received a settlement figure? I registered intent a few days before the deadline and still await mine, having first submitted all loan and payment details to HMRC (acknowledged by return of letter) in August 2017.

Also, what happens if HMRC dotn't get round to reviewing your case by April 2019? Does the 2019LC then kick in?